Regulatory Uncertainty and Market Liquidity: The 2008 Short Sale Ban's Impact on Equity Option Markets

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Worldwide reach of short selling regulations (2013, background): “Similarly, Battalio and Schultz (2011) show complementarities between short selling and options.”
Do Option Markets Undo Restrictions on Short Sales? Evidence from the 2008 Short-Sale Ban (2012, unknown): “7 Our results are a counterpoint to the Blau (2010) documentation of an increase in short sales activity after option introductions.”
The option to stock volume ratio and future returns (2012, background): “Both Battalio and Schultz (2011) and Grundy, Lim, and Verwijmeren (in press) find that option market spreads increased and option market volume decreased for firms subject to the ban relative to those exempt from it. A key component of our model is that option markets serve as an alternative venue f”
Informed trading and price discovery before corporate events (2015, unknown): “Options activity is nearly twice as large and statistically different on Day [ −1], which points to informed sellers using options to build short positions (see Battalio and Schultz, 2011 ).”
Flatten the Curve and Stock Market Liquidity – An Inquiry into Emerging Economies (2020, background): “As Battalio and Schultz (2011) highlighted that regulatory certainty assists in improving liquidity situation in markets and spreads tend to reduce.”